Report foresees cheaper solar, wind energy costs in 2035 - Living Environment

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Monday, January 25, 2021

Report foresees cheaper solar, wind energy costs in 2035

 


Solar and wind will provide a cheaper option for operating fossil fuel plants by the end of the decade, a report by McKinsey & Company

The 2021 Global Energy Perspective report forecasts that total installed solar and wind power plants will constitute about 50 per cent of global power generation capacity by 2035.

It said this growth will be driven by the increasing cost-competitiveness of renewables-powered green hydrogen by 2030.

The report also provides insights on the drive to lower carbon emissions over the next half-century by considering four future scenarios.

Under a business-as-usual scenario, it predicts the world is currently “significantly off of the 1.5°C pathway,” For global temperatures of below 1.5C this century, global carbon emissions must be cut by 50 per cent in this decade and increasingly fall by 85 per cent by 2050.

 

Source: Independent

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